Tycoon Ntake sells Delta TV
Delta TV launched in Uganda in 2015 but it has been struggling to compete with other TV stations in the country.
An insider claims the Katwe based TV station failed to break even, one of the reasons the proprietors decided to sell it off.
The source added that the TV station was incurring high operating costs yet they could hardly make any profits.
A couple of months ago, employees at the station were asked to be patient with the management as it sorts out the cash flow crisis.
Some workers were sacked as they tried to cut costs and live for another day.
Delta TV is jointly owned by Theatre actor, Abbey Mukiibi and Gaster Lule Ntake, the proprietor of Ntake Bread.